Thursday, August 16, 2012

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.

Remember that excuse the next time you're facing an audit. Just tell them it was the result of "chaos and porous risk controls" and that will eliminate any possibility of legal wrongdoing.

No laws apply to the power elite, only for us peasants. I think all of us with even a partially-firing brain synapse knew Johnny Corzine wasn't going to suffer much more than a wrist slap, if that.

Then there's Barclays not facing any charges for fixing LIBOR rates, and the CFTC announcing they will drop the investigation into the manipulation of the precious metals market (JP Morgan territory).

As FUBAR Ben correctly noted, this shit will not stop until the perps AND their enablers in gubment are gently swinging in the breeze from various lamp posts or trees, or their rotten melons adorning the tops of various point objects.

It really is that simple folks. They won't stop until they are PHYSICALLY stopped.

By the way, Roger Clemens was put on trial for lying to Congress. John Corzine did the exact same thing, was caught, and now faces no criminal trials. When justice is perverted, the government only holds legitimacy by force. Given that our criminal government is funding tanks for cops in small towns with murder rates of 0.0001%, I'd say they know this.

The question is, will the rest of the dumb masses wake up soon enough to prevent the coming bloodshed. Sooner is better than later.

The question is, will the rest of the dumb masses wake up soon enough to prevent the coming bloodshed.

History suggests this is highly unlikely. It doesn't take a genius to put together the abandonment of law with regards to the financial institutions with the mass purchase of ammunition by the various federal agencies and conclude that there are preparations being made for some sort of financial breakdown followed by mass popular unrest.

Neoliberalism has come a long way since the Reagan Era:http://www.capitalismwithoutfailure.com/2011/12/bill-black-on-incidence-of-fraud.htmlOn the prosecution of fraud following the Savings and Loan Crisis: Our agency filed over 10,000 criminal referrals that resulted in over 1,000 felony convictions. We worked closely with the FBI and the Justice Department, to prioritize cases—creating the top 100 list of the 100 worst institutions which translated into about 600 or 700 executives. We went after the absolute worst frauds.On the prosecution of fraud following the current crisis: We now have appointed anti-regulators. The FBI warned in open testimony in the House of Representatives, in September 2004, that there was an epidemic of mortgage fraud, and they predicted that it would cause a financial crisis if it were not contained. It was not contained. Since then we have had zero criminal referrals. They completely shut down making criminal referrals. Both the Bush Administration and the Obama Administration have not made it a priority to prosecute these elite criminals who caused this devastating injury.(...)

As I said the last time this came up, why isn't this an election issue? Why no commercials from anger farmers (hedgers) who were totally screwed by MF? The public may not care about wealthy futures speculators getting screwed, but farmers have about as much populist appeal as anyone. Why isn't Romney countering with MF every time "Bain" comes up?

And I don't say this as a Romney-Ryan RHINO type. I'll probably "throw my vote away" for Gary Johnson.

I have no doubt that if you had a bunch of Tea Party enthusiasts demonstrating while carrying automatic weapons like the New Black Panthers did in Houston, they would be unceremoniously gunned down in cold blood by TPTB accompanied by the cheers of the moonbat media.

> Yeah, if you still have money being managed by someone else after this, you're either crazy or stupid.

The only times I've had my money "managed" by someone else was when my 401K plan didn't offer index fund options. However, being managed isn't the only problem. Merely allowing it to be in their possession is now apparently an even greater risk than allowing them to manage it while it is.

Most of those he plundered and destroyed are too fricking stupid to even realize they been plundered and destroyed - much less the hopeless idiocracy who believes the propaganda churned out 24 x 7 x 365 by the Ministry of Truth. Even if there are a few souls out there who comprehend that Corzine is a pathological lying criminal vampire-squid, there's presently a massive Federal stasi in place heavily armed with weapons and gear unavailable to mere zeks and proles just waiting for the order to go after those few who can see and might actually have the will to resist. The ADL and $PLC have already been hacking UserIDs all over the blogosphere.

Maybe if the whole thing crashes to the point that the Banksta regime can no longer pay its orc-legions, there will be a chance someone could get to the likes of Corzine and deliver justice with extreme prejudice. Such an outcome is unlikely even then, since Corzine (being a dual-citizen) will be long gone and living the high life in some small Mediterranean country with his substantial pile of stolen loot. BTW, yet again, have Mittens and Paulie even breathed a mention of this outrage even one time? How about the fact that Corzine is bundling cash for Obama as I write this? Nope, the Repukes have their assigned role in this little Kabuki farce and will not depart from it.

What do you think would happen if I clipped this story and sent it to my Senators and Congressmen and asked how Corzine is not being prosecuted? Would they reply or would my name be simply added to some "list" that identifies me as a subversive for daring to speak up?

On that same note, let's say the S really does HTF. Say I have rifles and ammo stored up? Who am I shooting at and how sensible is it? Armed gangs in my garden are one thing, but what if those armed gangs rolled up in a police issued APC or tank; that is, the armed gang is from the "government?"

> What do you think would happen if I clipped this > story and sent it to my Senators and Congressmen > and asked how Corzine is not being prosecuted? > Would they reply or would my name be simply > added to some "list" that identifies me as a > subversive for daring to speak up?

Congress did it's own investigation, which typically means people being mean to the person in question, so they can later said "well, I was mean to that person, whatelse do you want?"

Chances are they would respond with telling that prosecution is an executive function, not a Congressional one.

Congress did it's own investigation, which typically means people being mean to the person in question, so they can later said "well, I was mean to that person, whatelse do you want?

Funny how, as in the cases of HUAC and Joe MCarthy, Congress "being mean to the person" is one the great crimes of the 20th Century (right up there close to the Holocaust)when those whom Congress was "being mean to" were Communists.